Judge Keeps $160M UBS Loss Out Of GE Bid-Rigging Case

Law360, New York (October 24, 2011, 2:36 PM EDT) -- A New York federal judge refused on Thursday to allow prosecutors to introduce evidence showing a bid-rigging scheme allegedly perpetrated by three former GE Capital executives cost UBS AG $161 million.

In August, U.S. District Judge Harold Baer tossed a wire fraud charge as time-barred, in part because prosecutors had not shown the alleged scheme harmed UBS. However, he kept six conspiracy counts against defendants Dominick P. Carollo, Steven E. Goldberg and Peter S. Grimm, saying those allegations fell within the correct, five-year statute of limitations....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.